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Tesla Motors(TSLA - Get Report) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. This stock is trading up 5.6% at $33.90 in recent trading.
Today's Volume: 2.1 million
Average Volume: 1.2 million
Volume % Change: 271%
Shares of TSLA are moving notably higher today after an analyst at Goldman Sachs lifted the price target on the stock to $50, citing positive catalysts including the highly-anticipated launch of the Model S sedan.
>>5 Stocks Setting Up to Break Out
technical perspective, TSLA is gapping up strong here with above average volume. This move is coming after TSLA broke back above both its 50-day and 200-day moving averages just a few trading sessions ago.
Now shares of TSLA are approaching a near-term
breakout trade. That trade will hit once TSLA takes out some near-term overhead resistance levels at $34.68 to $35.49 with high volume. That $35.49 level is the gap-down day high for the stock form back in April.
Traders should now look for long-biased trades if TSLA can sustain a move or close above those levels with volume that's near or above 1.2 million shares. If we get that action soon, then TSLA could possibly re-test and take out its all-time high of $39.95.